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Discussion Starter #1
I drive short trips and I seldom drive on any roads where the speed limit is over 45 mph. Since there are so few moving parts and I don't abuse my Bolt , how important it is to extend my 3 year warranty?
 

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Everyone has varying degrees of financial means and risk acceptance. Insurance (extended warranty) is designed to make the insurance company money, so on balance, the insured usually don't benefit.

I suppose I'd start with how much it would financially impact you if the car broke down outside of warranty? Would you be able to fix or replace it without relying too heavily on expensive financing (credit cards, etc).

The drivetrain and battery is under warranty for something like 8 years or 100k miles. That's the 2 biggest expenses right there. What else is going to break that would be financially prohibitive to replace?

I'm against all extended warranties and extra insurance because I am risk tolerant and can easily absorb an occasional loss. The money I save gets invested rather than spent. People that spend every dime don't have a cushion to fall back on if they suffer misfortune, and it might make more sense for financially irresponsible people to just pay for their misfortune upfront (purchase insurance).
 

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I'm with redpoint5. I always look at extended warranties as statistics. For example, if they want to charge you $700 for an extended warranty for X years it means that statistically, people will need to spend less than $700 on repairs for the same period. How do I know? They need to charge you more than the average repair costs in order to make money on those extended warranties. On average (statistically speaking) you are better off without them. But if you are in a position that a big repair bill might cause you financial hardship, you might want the assurance of not having a high bill. Remember that if the average repairs are $500 (for example), it probably means some people need zero repairs but a few might be faced with a $4000 hit. It all averages out. You have to decide where you fall in the risk/reward scale.

Mike
 

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Also be advised that someone made a post here that a part not covered once the bumper-to-bumper expired ended up being paid for by GM. As best I recall it was an electronic part related to L1/L2 charging. It was a part that one might expect to be covered under the 8 year warranty but was excluded at first. But the poster claimed that Chevy did step up in the end.
 

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Discussion Starter #6
Thank you for the insight . It does make sense to determine the impact of having to replace a major component (computer board) would be. Thanks you !
 

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I'll add that my opinion is also based on the fact that I do most of my own work, and I'm extremely comfortable with electronics/electricity. Half the cost of repair is usually labor. None of that applies to me since I google my parts and do the work myself. That said, all my vehicles have been very reliable except for my pickup, needing only regular maintenance even to 200k miles. Trucks are supposed to be a love/hate relationship though.
 

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@redpoint5 makes a fair number of really good points. I'm not so risk tolerant and I am at the mercy of the dealerships and the ever rising labor/shop rates. And it's really crystal ball game playing. I do think overall extended warranties are a waste but for reason's I can't fully defend, I tend to buy them for cars and have more times than not. I believe I've broken even at worse with them. The Bolt is a different beast because of the warranty for the battery and motor. With that being said, when the dealership that sold me the car offered me the GM/Chevrolet warranty, it was outrageously priced. I had followed some forums prior to my purchase and from this forum I became aware that you can buy an extended warranty from any GM dealer anywhere basically. And you had up to a year to do so without penalty. So, after shopping for the warranty at 3 different local dealerships and getting widely varied pricing, it ended up being on the internet that I pulled the trigger. I paid $1,836 to add 7y/100k to the car from the point of purchasing the contract. Not the delivery date of the car. I think I will be a good case study and will keep everyone informed as to how I make out with it. It's been a year, and I don't have regret but the comments above have given me pause. If my infotainment goes out, the wipers go south, due to rising costs I might do ok. I don't fix these things myself. I've got no kids, great income and a solid pension so I have the discretionary income and maybe that is a factor.
 

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I just drove through 36k miles yesterday. I had previously posted a similar question and decided against the purchase of an extended warranty.
If you choose to, I would consider a 3rd party. GMs extended warranty does not differentiate between models (we bought a Bolt and Volt the same day, extended warranty is the same fee, and probably the same as a Suburban).
 

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I just drove through 36k miles yesterday. I had previously posted a similar question and decided against the purchase of an extended warranty.
If you choose to, I would consider a 3rd party. GMs extended warranty does not differentiate between models (we bought a Bolt and Volt the same day, extended warranty is the same fee, and probably the same as a Suburban).
Be exceptionally careful of those third-party warranty companies. A significant portion of them aren't worth the paper they're printed on.
 

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Be exceptionally careful of those third-party warranty companies. A significant portion of them aren't worth the paper they're printed on.
I won't disagree... so my thought is to not worry about the extended warranty.
If GM had priced theirs according to actual cost risk per car model, I might have considered, given how unlikely the Bolt is to have mechanical failures.
 

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@redpoint5 makes a fair number of really good points. I'm not so risk tolerant and I am at the mercy of the dealerships and the ever rising labor/shop rates. And it's really crystal ball game playing. I do think overall extended warranties are a waste but for reason's I can't fully defend, I tend to buy them for cars and have more times than not. I believe I've broken even at worse with them. The Bolt is a different beast because of the warranty for the battery and motor. With that being said, when the dealership that sold me the car offered me the GM/Chevrolet warranty, it was outrageously priced. I had followed some forums prior to my purchase and from this forum I became aware that you can buy an extended warranty from any GM dealer anywhere basically. And you had up to a year to do so without penalty. So, after shopping for the warranty at 3 different local dealerships and getting widely varied pricing, it ended up being on the internet that I pulled the trigger. I paid $1,836 to add 7y/100k to the car from the point of purchasing the contract. Not the delivery date of the car. I think I will be a good case study and will keep everyone informed as to how I make out with it. It's been a year, and I don't have regret but the comments above have given me pause. If my infotainment goes out, the wipers go south, due to rising costs I might do ok. I don't fix these things myself. I've got no kids, great income and a solid pension so I have the discretionary income and maybe that is a factor.
Although it's not what I did (I skipped the extended warranty), I like your approach. If you're going to get an extended warranty at all, this is the right way to go (or perhaps going to the local dealer, Internet price in hand, and seeing if you can negotiate the same one). If the warranty is pretty comprehensive and you keep the car that long, I think it's going to cover something eventually, and you have the peace of mind that you've got a ceiling price and it's already paid.
 

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Although it's not what I did (I skipped the extended warranty), I like your approach. If you're going to get an extended warranty at all, this is the right way to go (or perhaps going to the local dealer, Internet price in hand, and seeing if you can negotiate the same one). If the warranty is pretty comprehensive and you keep the car that long, I think it's going to cover something eventually, and you have the peace of mind that you've got a ceiling price and it's already paid.
Thanks. I didn't go back to the original dealer, but on one dealer I did go with internet price in hand thinking maybe they would match it. They didn't .... thought that was odd but didn't fight it either. Bought the car in Wisconsin, the warranty from Wyoming.
 

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I passed up the extended warranty when I made my purchase. But, I wonder if I should have bought it. On my pickup, I do a lot of the normal maintenance work, but it still usually ends up in the shop occasionally for work I can't do. Even with doing my own work, I have learned to set aside ~$100 a month to cover maintenance expenses, which comes out to about $1k a year. So, in comparison, the extended warranty was pretty cheap. Even though maybe there is less to go wrong with the Bolt, when something does go wrong, it can be thousands of dollars, especially if GM decides it isn't covered by their warranty. Yes, it comes down to risk tolerance, but I'm already paying more for maintenance on my truck than a service warranty would cost. How long does your home computer last? It seems that within a few years mine breaks somehow. Any idea how much a computer repair (replacement) costs in the Bolt? $$$$. And don't plan on fixing that yourself.
 

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The biggest ticket items are the battery and motor and those have 8 years of coverage. We only need to worry about buying extended warranty close to the 8 yr point. Buying extended warranty from new purchase means overlap in coverage. You're effectively paying for the mfg warranty yourself.
 

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The biggest ticket items are the battery and motor and those have 8 years of coverage. We only need to worry about buying extended warranty close to the 8 yr point. Buying extended warranty from new purchase means overlap in coverage. You're effectively paying for the mfg warranty yourself.
Shop labor rates and GM parts are expensive. I bought an extended warranty for my 2015 GMC Sierra 1500 truck. I haven’t broken even yet but I’ve used the extended warranty twice. Each repair was about $600, one the dealership tried to charge me for saying it wasn’t covered. Both repairs were accessories ... a wiper motor replacement, it’s gearbox and something related. The recent one was I lost my driver door armrest controls. All of them went dead. It was just over $500 to diagnose then replace the cable to the door. I am not openly disagreeing with you but I knew going into the purchase of the warranty that I was only covering accessories when I bought mine. It’s a roll the dice moment. If your infotainment screen goes out, that’s over a grand. I’ve had a fancy electronic dash go out, that was a grand. These are rare, but that’s what went through my mind when I threw that money towards the extended warranty.
 
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